Delta to make $1.1M payment to city for O'Hare

Delta Air Lines Inc. says it will make a $1.1 million debt-service payment due Oct. 31 while it negotiates with the city of Chicago to restructure $33.9 million in 1982 bonds that financed its terminal at Chicago's O'Hare International Airport.

Delta, which sought bankruptcy protection in September, says in a court document that under the settlement contemplated, it would receive an up-front cash payment from the city in exchange for relinquishing its rights to exclusive use of its O'Hare facility.